Insurance worth it?

[Mansell82]

Hey guys, picking up my first boat hopefully today, an '86 Ranger with '86 Black Max 175. Is insurance on an older boat worth the money? What is typically covered with boat insurance? I have house/vehicles/motorcycle all through the same company and don't imagine it would cost more than $150/year.

 

[Jmax]

Liability is always worth it. You may never need it but if you do you will be glad you have it. If you accidentally hit someone or have a person hurt in any way you will need it or may suffer a financial lose you do not ever want to get into. On the boat itself it is just like a car. Is it worth it to you to have coverage on the boat? Only you can answer that. Jmax

 

[buzz]

I think boat ins, is about the cheapest ins you can take out.

 

[Mansell82]

I will definitely get the liability, thanks!

 

[Smalliefan2]

If you want to fish any nationally sanctioned tournaments property and liability are required,check the rules for the amount. Best I can remember it is $250K + liability. Also, if it is low enough, though the boat isn't new, it could help if you ever had to replace it. The rate is based on the area, mine went from $ 120 to $250 just by moving south where the boat is used more,and I got several quotes since I wasn't happy with the increase. All were higher than my old rate.

 

[Buoy-Master]

Insurance is always worth it. I wouldn't go without.

 

[Dgreen]

I have a 1990 ranger and a 175 black max on it. A little over a year ago I went through some debris and my engine overheated. State Farm paid for my engine rebuild. My insurance is $220 a year. Thats a lot cheaper than it cost to rebuild the engine!

 

[Jmax]

Like I mentioned up top I would for sure have liability. On the boat coverage you have to ask yourself if you had an issue are you in a financial state with enough to fix it or would you be dead in the water. (no pun intended) If you have the $2,500.00 to replace a lower unit or the $500 to replace equipment that might be stolen then you may not want to have it on the boat. I have always had it on my boats over the years. The thing that has always bit me was the lower units. It you hit something they can take a financial toll. On things like a power head that would not be covered since it would fall under normal wear. With that said you could still be looking at paying 7K to replace a power head. emoEek I have lost one power head over the years, I had to replace that. I have lost a couple lower units and the insurance has replaced those. I also had a body damage where the fiberglass started cracking and the boat haul warranty said it was impact damage. Since I had never hit anything we got into it. They said to report it on my insurance. emoMad I told the insurance about it and they went after them. In the end the insurance company paid for the boat and I got out of the case. The last I heard the insurance was still going after Champion Bass Boats to be reimbursed for the repairs. I was sure glad to have the insurance on the boat since once they took it over I was able to get it repaired and go fishing with them still after each other. I have no idea how that all turned out.

To me insurance is always worth it. Both liability and boat coverage. emoGeezer Jmax

 

[Mansell82]

Again, thanks for the additional info. The Ranger didn't pan out but I'm still looking and determined to find a good boat!

 

[dhpro]

state farm all the way !i feel boat ins is a must

 

[churly]

Not having insurance on a boat would be majorly irresponsible! Its cheap too.

 

[smughal31]

Full coverage on a boat is nothing compared to hardly everything else. Full coverage on my 97 procraft was under 150 a year with State Farm. They have saved my butt more than once. It is WELL worth it

 

[JAMEST]

I have liability added to my boat through farm bureau through home owners policy very cheap that way

 

[Mansell82]

Thanks for the advice guys. Got my new to me boat insured

 

[Strato-G]

Mansell82 - 6/29/2013 6:27 AM

I will definitely get the liability, thanks!

Get it attached to Homeowners, less expensive, also, homeowners also covers all equiptment & electronics....make sure u ask the agent about coverage from homeowners, ......... emoGeezer emoUSA

 

[Lucky13]

Insurance is always worth it. I get mine super cheap and it covers everything inside the boat too.

 

[takenoprisoners]

What if your boat is a 1953 Alumacraft modified V? Still worth it? It does have a motor and trolling motor, so...maybe...

 

[2jigs]

Lucky13 - 7/17/2013 7:43 PM Insurance is always worth it. I get mine super cheap and it covers everything inside the boat too.

</p>

But does supper cheap Ins = no claims paid if you have to file? Just because you give an Insurance company you $$$ for 5-10 years doesn't mean they will make good when it's their turn @ the plate.</p>

 

[churly]

Thats why you only deal with insurance companies you know carry a god reputation.